The Famous Question ... "How's The Market"?"

By
Real Estate Broker/Owner with THE TEMPLE TEAM
https://activerain.com/droplet/StZ

 

 

“How’s the Market?”

www.TheTempleTeam.com

 

One of the best things about being in the real estate business is that people always want to talk to you and the number one questions is always “How’s the market?” Well ... I'm sure much to their surprise ... the answer is "The market has shifted"!

Compared to the market in 2004 when anyone that could fog a mirror could buy a house. The market shifted toward the end of 2007, and the real estate business became much more complicated. Mortgages became much tougher to obtain, property values decreased, and distressed properties became a big part of the market. During which time we saw a lot of agents get out of the Real Estate business.  This lead to a "Buyer’s Market", which means that buyer’s are in control of the transaction and can make more demands that are in their favor. The buyer essentially has plenty of homes to choose from, can make low offers, and can walk away if the seller isn’t willing to play by their terms. But ... EVERYTHING started to change by mid 2012 and has lead to another shift in the market!

The majority of the country is now in a seller’s market, which occurs anytime the inventory levels drop below five months. We even have some areas of Charlotte that have less than 3 months of inventory currently.

The seller is back in control of the transaction. With such low inventory levels, many buyers are fighting over the same properties. That means we’re seeing properties receiving multiple offers, which always benefits the seller as well. With the low inventory levels and the high demand, we have started seeing home prices increase. It's not huge, but we’re seeing appreciation for the first time in years.

And, with less distressed properties on the market, it helps to stabilize home prices. 

So, to sum things up ...

No, your house is not worth what it was in 2007. No, we haven’t recovered completely from the shifted market. BUT, we are definitely moving in the right direction! If you have been thinking and tossing around the idea of listing your home within the next six months ... change your plan and list your home NOW!

You have no competition right now, so get the home on the market and price it right!

The Temple Team is ready to help you with all of your Real Estate needs!  Contact us at  704-235-3000 or visit our website at www.TheTempleTeam.com.

 

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Topic:
Real Estate Market Trends
Location:
North Carolina
Groups:
North Carolina Real Estate
Charlotte NC Real Estate
Charlotte North Carolina Area
Lake Norman NC Homes
Lake Norman Rain
Tags:
listing
selling
buying
real estate agent
real estate market
keller williams
lake norman
the temple team

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Rainmaker
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Pat Champion
Coldwell Banker Camelot Realty - Mount Dora, FL
Call the "CHAMPION" for all your real estate needs

Great post this is the answer that a lot of Agents are telling their seller's now is the time while the selection is few for buyers. Have a great weekend.

Mar 22, 2013 02:07 AM #1
Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Kent,  Yes great advise to give people.  Do not wait, low interest rates and inventory is low, get the sign out front now.

Mar 22, 2013 02:28 AM #2
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Rainmaker
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The Temple Team

Specializing in Lake Norman/Charlotte/Charleston
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